Top real-estate sites Zap and VivaReal agree to merge

12:03 AM (GMT -03:00) – Nov 17 2017

Zap and VivaReal, the two largest real-estate sites in Brazil, have agreed to merge and create a holding company to control the new venture. Grupo Globo, also the parent of Valor Econômico, controls Zap. Globo will hold a majority of shares in the new company, dubbed Zap VivaReal, while VivaReal's managing president, Lucas Vargas, will take the helm. Zap, with 500 workers, and VivaReal, with 600, will be integrated but continue operating the separate brands. The companies don't disclose revenues, but each said it has been growing over 30% a year.